In a pioneering move, the Department of Electronics, IT, BT, and Science & Technology, Government of Karnataka, has launched the state’s first-ever Centre of Excellence (CoE) to further strengthen the fintech ecosystem of the state.
Situated within the Nadathur S Raghavan Centre for Entrepreneurial Learning (NSRCEL) at the Indian Institute of Management Bangalore (IIMB), this remarkable initiative aims to nurture fintech innovation and advancement through strategic support from the state government. By collaborating with academia and the corporate sector, the CoE will focus on key areas such as Incubation & Mentoring, Sandbox development, and Skilling & Training through specialised certification programs, providing critical support to emerging fintech startups.
The first Governing Council meeting for the CoE was held on 17th January 2025, bringing together notable figures from the industry. Among the attendees were Harshil Mathur, CEO, Razorpay, Dinesh Pai, VP – Business Analysis and Investments, Zerodha, and Kunal Shah, founder of CRED, along with faculty from IIM Bangalore.
The government has allocated an estimated Rs 13.24 crore for the CoE’s operations over the next five years. Of this, Rs 8.19 crore is earmarked for the incubation and acceleration programs, while Rs 5.04 crore will support skilling and training initiatives. This strategic investment highlights Karnataka’s continued commitment to being a fintech powerhouse.
Building the Financial Ecosystem for the Future – Elets World Fintech Summit (worldfintechsummit.com)
Karnataka’s commitment to strengthening the fintech landscape will be showcased at the Elets World Fintech Summit (WFS) this April in Bengaluru. The two-day mega event, hosted by Elets Technimedia, in partnership with the Department of Electronics, IT, BT, and Science & Technology, Government of Karnataka, will bring together global leaders, policy-makers, industry experts, and key stakeholders for exchange of ideas, expertise and collaboration.
Also Read :- Karnataka’s Vision Shaping the Future of India’s FinTech Ecosystem
Fueling Fintech Innovation Globally
India’s fintech sector is rapidly evolving, driven by forward-thinking policies and regulations that recognise its significant role in democratising financial services. With an adoption rate of 87%, India is leading the global charge in digital financial transformation, well above the global average of 64%. The Elets World Fintech Summit seeks to build on this momentum, creating an unparalleled platform for advancing fintech innovation, nurturing strategic partnerships, and catalysing industry-wide collaboration on a global scale.
Key Highlights
The Elets World Fintech Summit will feature over 2000 participants, including top leafders from 500+ leading financial institutions, 120+ expert speakers, and 50+ policy-makers and regulators. Additionally, the summit will bring together more than 50 strategic partners, creating a dynamic platform for collaboration and innovation in the fintech sector.
This summit will provide unparalleled opportunities for learning and networking, as India’s vibrant fintech ecosystem connects with global players to explore new ideas and unlock opportunities.